Hyundai Rotem (064350) Q2 2024 earnings summary

Executive summary

• Sales increased to 18,423 (100 KRW mil) in 1H 2024 from 16,713 in 1H 2023, with operating profit rising to 1,574 from 991 year-over-year.

• Backlog grew to 189,915 (100 KRW mil) in 1H 2024, up from 166,043 in 1H 2023.

• EBIT surged 154% year-over-year to 1,856 (100 KRW mil) in 1H 2024.

Financial highlights

• Revenue for 1H 2024 reached 18,423 (100 KRW mil), a 10% increase year-over-year.

• Operating profit margin improved to 8.5% in 1H 2024 from 5.9% in 1H 2023.

• Net income for 1H 2024 was 1,576 (100 KRW mil), up from 1,978 in 1H 2023.

• New orders dropped 43% year-over-year to 27,491 (100 KRW mil) in 1H 2024.

Outlook and guidance

• Forward-looking statements indicate expectations for continued growth but acknowledge uncertainties that may impact actual results.